Maximizing Your Investment in Recruitment Technology
When implementing a new executive search software solution, there are a number of items to consider to ensure that your firm gets the most value from its investment. When evaluating executive search software, the total cost of your project may not be apparent. Typically firms will assess purchase price and migration costs, with the hope that their new provider will not have any cost overruns. To maximize your investment and reduce unforeseen costs, it is crucial to outline an implementation strategy.
Here are 5 ways to ensure your firm gets the maximum return on its recruitment technology:
- “Subject Matter Expert”- The implementation should be assigned to a subject matter expert within your firm, the person who works the most with recruitment technology and software. He or she should focus on the planning and setup of the system. The implementation expert should know your business and evaluate processes that can be simplified and automated. Your technology provider should be able to give you a budget for the amount of time that will be needed to support your project. The more experience your provider has in your specific niche, the less time they will need from your staff.
- “Tech Resource” - Most recruitment software is available in the cloud, which means you won’t need to install a database server or update it. However, your software provider does not replace your IT provider. You will need a separate IT resource to maintain physical hardware, assure security of your data, and backup files and information unrelated to your database.
- “Maximize Your Data” - Most firms already employ specialists or Knowledge Managers to keep data clean and updated. This person assures your data is accurate and maintained properly so you can get the most leverage from your software and its features. The best recruitment technology is only as valuable as the data it stores and having a resource to regularly use and update this data will truly maximize your software investment.
- “Team Incentives” - Many search firms provide incentives to teams for entering data and performing routine activities in their executive search database. Create a schedule of incentives and rewards to empower team members. This strategy has proven extremely effective for data quality and team engagement. Tasks are easiest to track and follow up on if teamwork is encouraged and recognized.
- “Expense or Investment” – Selecting a technology partner and placing a heavy emphasis on price can nearly double the cost of your initial investment. In the long run, not having the right technology or the appropriate resources will cause delays and interruptions. Many search firms evaluate and purchase recruitment software based on price rather than recognizing it as a solution. These firms realize their mistake only after making the initial investment, and often times end up purchasing something completely new. Choose a company that has grown with the industry, and will commit to a real partnership with your organization.
When it comes to recruitment software evaluation, consider all costs associated with a transition before making any real commitments. Consult your existing technology providers to gain a true understanding of the cost and effort involved. Allocating the appropriate amount of time, resources and ownership will make any systematic implementation a success.